Blackstone Group makes its first bet on Bitcoin, holding $1.08 million worth of IBIT

ChainCatcher news, Blackstone seems to have finally started to venture into Bitcoin. As the "largest alternative asset management company in the world" managing over $1 trillion in assets, Blackstone has only purchased slightly more than $1 million of the BlackRock spot Bitcoin ETF (IBIT), while the fund has a size of over $60 billion. According to the filing documents released on Tuesday, Blackstone held this asset in its portfolio as of the end of the fiscal quarter on March 30.

According to the filing submitted to the U.S. Securities and Exchange Commission (SEC) on Tuesday, Blackstone held only $1.08 million in IBIT as of the end of March. This is the first time Blackstone has publicly disclosed investments related to cryptocurrency. Back in 2019, Blackstone co-founder and CEO Stephen Schwarzman stated that he had little interest in Bitcoin. "I'm not interested in it because I find it hard to understand," he said at the time.